SFAL Speciality Alloys Limited to Acquire 29.39% Stake in Nilachal Refractories Limited for ₹ 22/- Per Share

SFAL Speciality Alloys Limited (the 'Acquirer') has submitted a Draft Letter of Offer to the shareholders of Nilachal Refractories Limited (the 'Target Company') to acquire 59,83,928 Equity Shares at an offer price of ₹ 22.001- per share, representing 29.39% of the voting share capital. The offer is not conditional or subject to any minimum level of acceptance and is not a competing offer. The Acquirer does not require any statutory or regulatory approvals other than passing a valid shareholders resolution and obtaining in-principle approval from the Stock Exchanges for the delisting of the Target Company.